500 E Vine St · Salisbury, MD 21804

$199,000

3 bd · 2.0 ba · 1,746 sqft · SingleFamily public records · 104 Days on market

Built 1955 8,911 sqft lot $114/sqft · at area comps Est $206k · at est. ↓ 4% since listing

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +19.9/30.0
• ARV discount +9.1/15.0
• DSCR +6.3/10.0
• 1% rule +4.3/10.0
• Rent growth +3.4/5.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity to own in the heart of Salisbury! This property is conveniently located just minutes from TidalHealth Peninsula Regional and close to the shops, restaurants, dining, and entertainment of downtown Salisbury. Its central location makes it ideal for investors or anyone looking to be near the city’s key amenities. The home also features a newer roof and updated cooling system, offering added value and peace of mind for the next owner. Enjoy easy access to medical facilities, local dining, and everything the Salisbury area has to offer while owning a property with strong potential.

Key facts

• Newer roof
• Conveniently located
• Local dining

Tags

• CONVENIENTLY LOCATED
• NEWER ROOF
• UPDATED COOLING SYSTEM
• LOCAL DINING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $242 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $185k (6.8% below list).
• Recommended offer: $181k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 4.8% in Salisbury — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 60/100 on livability (#351 in MD) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, housing A; Watch: schools D-, crime F, amenities F.
• Wicomico County Public Schools (urban): math 16% / reading 26% proficiency, ranked #19 of 24 in MD (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+3.8%/yr); 195 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 278 units permitted in Wicomico County in 2024 (44 in 5+ unit buildings).
• This rent runs 30% of the median local income ($73k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Wicomico County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($181k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 78% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $181,090 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.93% ✗
• Cap rate: 7.75%
• Cash-on-cash: 5.21%
• DSCR: 1.23
• GRM: 8.9

CMA / ARV

• ARV (median comp): $206,401
• List price: $199,000
• Delta: -3.59%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
309 Park Heights Ave	0.23mi	3/2.5	1,778 (+2%)	2mo	$280,000	$157	82
307 Park Heights Ave	0.24mi	3/2.0	1,704 (-2%)	15mo	$185,101	$109	72
732 S Park Dr	0.30mi	3/1.0	1,672 (-4%)	11mo	$292,000	$175	66
509 Regency Dr	0.59mi	3/2.0	1,734 (-1%)	8mo	$269,900	$156	64
812 Gettysburg Ave	0.43mi	3/2.0	1,650 (-6%)	12mo	$259,900	$158	60
908 Spring Ave	0.53mi	4/2.0 (+1)	1,600 (-8%)	3mo	$284,200	$178	54
701 Parkway Ave	0.51mi	3/1.5	1,880 (+8%)	11mo	$229,000	$122	52
715 Regency Dr	0.65mi	3/1.5	1,694 (-3%)	16mo	$285,000	$168	50
914 S Park Dr	0.73mi	4/2.5 (+1)	1,800 (+3%)	13mo	$399,990	$222	43
916 S Park Dr	0.74mi	3/2.5	1,872 (+7%)	13mo	$419,000	$224	40
709 Regency Dr	0.64mi	4/2.0 (+1)	1,600 (-8%)	14mo	$320,000	$200	40
512 Regency Dr	0.55mi	4/1.5 (+1)	1,490 (-15%)	10mo	$210,000	$141	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.78% rent growth · sell at horizon

5-year hold

• IRR: -7.5%
• Equity multiple: 0.72×
• Total profit: $-15,452
• Equity at exit: $29,672

10-year hold

• IRR: 3.0%
• Equity multiple: 1.22×
• Total profit: $12,216
• Equity at exit: $17,206

Cash invested: $55,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 27 Tenant-Leaning
• State Maryland: 27 Tenant-Leaning · D+14
• County: — inherits STATE
• City: — inherits STATE

Failure-to-pay is dismissed if cured before judgment; Baltimore has just-cause; strict deposit rules.

Methodology + full state rankings →

ZIP-level market 21804

• Home prices YoY: -26.7%
• Rents YoY: 3.8%
• Active inventory: 195
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,855 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$97 /mo · $1,164/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$389
• Net cashflow: $242

Break-even live

Break-even rent $1,549

Max offer price $199,000

Occupancy floor 82%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
719 Shiloh St Unit 1 Salisbury, MD	3.0	1.0	1152	$1,625	$1.41	13d	1	0.32mi
306 Carrollton Ave Salisbury, MD	4.0	1.0	1163	$1,700	$1.46	44d	1	0.69mi
529 E William St Salisbury, MD	3.0	1.0	1057	$1,495	$1.41	21d	1	0.70mi
826 S Schumaker Dr Salisbury, MD	1.0–3.0	1.0–2.5	1022	$1,876	$1.84	13d	5	0.79mi
218 W Main St Unit 401 Salisbury, MD	2.0	1.0	1060	$1,695	$1.60	44d	1	0.88mi
830 Larch Way Unit 1 Salisbury, MD	3.0	2.5	1568	$1,900	$1.21	13d	1	0.90mi
830 Larch Way Salisbury, MD	3.0	2.5	1568	$2,000	$1.28	13d	1	0.91mi
830 Larch Way Salisbury, MD	3.0	3.0	1568	$2,000	$1.28	44d	1	0.91mi
1017 Baccharis Dr Salisbury, MD	3.0	2.5	1568	$1,895	$1.21	13d	1	1.00mi
550 Riverside Dr Salisbury, MD	3.0	2.0	1250	$1,975	$1.58	44d	1	1.05mi
101 Cedar Xing Salisbury, MD	4.0	2.0–4.0	965	$1,375	$1.42	13d	9	1.09mi
518 Alabama Ave Salisbury, MD	1.0–3.0	1.0–2.5	1028	$1,784	$1.73	13d	14	1.14mi
1000 Marley Manor Dr Salisbury, MD	2.0–3.0	2.0	1225	$2,076	$1.69	13d	20	1.23mi
421 Loblolly Ln Salisbury, MD	3.0	2.0	1514	$2,250	$1.49	44d	1	1.40mi
604 Liberty St Salisbury, MD	3.0	1.0	1110	$1,500	$1.35	44d	1	1.46mi

Listing history 18 events

1. 2026-06-18
   days on market $199,000 Active 104 DOM
2. 2026-06-17
   days on market $199,000 Active 103 DOM
3. 2026-06-16
   days on market $199,000 Active 102 DOM
4. 2026-06-15
   price $199,000 Active 101 DOM
5. 2026-06-15
   days on market $250,000 Active 101 DOM
6. 2026-06-14
   days on market $250,000 Active 99 DOM
7. 2026-06-13
   days on market $250,000 Active 98 DOM
8. 2026-06-10
   days on market $250,000 Active 96 DOM
9. 2026-06-09
   days on market $250,000 Active 95 DOM
10. 2026-06-08
    days on market $250,000 Active 94 DOM
11. 2026-06-07
    days on market $250,000 Active 93 DOM
12. 2026-06-03
    days on market $250,000 Active 89 DOM
13. 2026-06-02
    days on market $250,000 Active 88 DOM
14. 2026-06-01
    days on market $250,000 Active 87 DOM
15. 2026-05-31
    days on market $250,000 Active 86 DOM
16. 2026-05-30
    days on market $250,000 Active 85 DOM
17. 2026-03-06
    listed $250,000 Active 608-char remark

    Show marketing remark (608 chars)

    Great opportunity to own in the heart of Salisbury! This property is conveniently located just minutes from TidalHealth Peninsula Regional and close to the shops, restaurants, dining, and entertainment of downtown Salisbury. Its central location makes it ideal for investors or anyone looking to be near the city’s key amenities. The home also features a newer roof and updated cooling system, offering added value and peace of mind for the next owner. Enjoy easy access to medical facilities, local dining, and everything the Salisbury area has to offer while owning a property with strong potential.

18. 2023-02-07
    soldstatus $260,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MD · Partial reset (capped growth)

• Current annual tax: $1,164 · $97/mo
• Projected year-2 tax: $1,666 · $139/mo
• Expected delta: +$503/yr (+$42/mo · 43.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 71% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 78% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,255
• − Mortgage interest: −$11,147
• − Property taxes: −$1,164
• − Insurance: −$995
• − Repairs & maintenance: −$1,780
• − Management: −$1,780
• − Depreciation: −$5,789
• Taxable loss: −$400
• Est. tax savings @ 24.0%: +$96
• After-tax cash flow: $2,996/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Wicomico County Public Schools
• NCES district ID: 2400690
• Math proficiency: 16% ▼ -18.00%
• Reading proficiency: 26% ▼ -13.00%
• Median HH income: $51,745
• Composite: 18.87/100
• National rank: #8860
• State rank: #19 of 24 in MD

Livability — Salisbury

• Score: 60/100
• State rank: #351
• US rank: #18948

Category grades

Amenities F Commute F Cost of living A Crime F Employment D- Housing A Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Salisbury, MD
• County: Wicomico County · 75,969 people
• City population: 70,518
• Metro: Salisbury, MD-DE
• Population (ZIP): 40,430
• Household income: $73,156
• Rent vs Own: 48.6% rent · 51.4% own
• Severe rent burden: 2096.0

Population outlook (Wicomico County) Hauer SSP2

• Today (2025): 108,548 people
• By 2030: 111,783 · +3.0%
• By 2040: 118,139 · +8.8%
• By 2050: 123,641 · +13.9%
• By 2075: 139,784 · +28.8%
• By 2100: 145,334 · +33.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 54% Black 30% Two or more races 9% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Mexican 4% Dominican 1%
• Common ancestry: Hispanic 8% Romanian 3% Slovak 1%
• Foreign-born: 13% · Canada, Vietnam, South Korea
• Languages at home: 83% English-only · French/Haitian/Cajun 7% Spanish 5% Other Indo-European 2%

Political lean MEDSL · Wicomico

• 2024 margin: Lean R (+5.5) · D 46.1% · R 51.5% · Other 2.4%
• 2008→2024 swing: +0.3pp no change · 2008: -5.8pp · 2024: -5.5pp
• All cycles: 2024: R+5.5 2020: R+1.9 2016: R+11.6 2012: R+6.9 2008: R+5.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -84.15%
• Current HPI: 230.6099
• Rent YoY: ▲ 3.78%
• Metro: Salisbury, MD-DE
• State GDP YoY: ▲ 2.97%
• F500 in state: 12

Industry mix (Fortune 500 HQ in MD)

Industry	F500 HQs	Revenue
▸Aerospace / Defense	1	$71B
▸Utilities	1	$25B
▸Hotels	1	$24B
▸Consumer Goods	1	$7B
▸Real Estate	1	$6B
▸Chemicals	1	$2B

Price history

-3.8% since first listed

2 events — show timeline

• 2026-03-06 Listed $250,000 BRIGHT MLS
• 2023-02-07 Sold (Public Records) $260,000 Public Records

Property tax history

-1.8%/yr

Latest (2025): $1,164 · +3.8% YoY. Source: county tax records.